Reasons Why pHIVE Will Help The Hive Ecosystem
We are on the verge of another a liquidity pool with Hive showing up. This is further expansion of the Polycub platform, with the upcoming pHIVE-POLYCUB pool about to go live. This is going to enhance the entire Hive ecosystem in a number of ways.
Polycub is working to extend the reach of Hive, putting it onto the Polygon blockchain. This EVM fork is becoming more popular so it makes sense to see Hive on there. In future moves, we are also going to see this replicated on BSC through bHIVE and bHBD. For the moment, the focus is on Polygon.
One of the main issues with Hive is actually getting a hold of the token. Depending upon where you are in the world, it can be difficult to acquire. There are not many of the Western exchanges which carry it, meaning people are having to search other options.
Therefore, creating alternative is crucial.
Decentralized Alternatives Are The Future
As much as people clamor for listings on exchanges, and for obvious reasons, the future is likely in the decentralized arena. Liquidity pools offer the same service as centralized exchanges in terms of the ability to swap different coins/tokens. They do so usually for less money. There is also the lack of KYC which many feel is vital.
There is, however, a drawback to this. For these pools to be effective, there has to be liquidity, hence the name. If that is not the case, the fees can skyrocket, especially when swapping large sums. Naturally, the goal of Hive is to attract some larger players. To achieve this end, the token needs to be accessible in quantities those people desire.
What is interesting is that a strong community can opt to fill a liquidity pool simply because it supports the token or coin. Of course, having a strong APR also helps the cause. People are incentivized to participate, making the "ownership" spread out. Naturally, rug pulls are something people need to be careful of, so this is not without risk.
Shortly, we are going to see the entry to Hive available to any token on the Polygon blockchain. By establishing a liquidity pool, swaps can easily take place from any token there. This increases the reach of Hive, giving more people access.
Millions Of HIVE
Could millions of HIVE makes it way into the liquidity pool? This is something that is likely considering what took place with pHBD.
There is a pool on Polycub, pHBD-USDC. Thus far, the p-HBD project has accumulated 180,000 of the 9 million HBD freely floating. This works out to roughly 2% of the total.
At present, there are 379 million HIVE, of which 154 million are staked. This means that 225 million are on the open market. Obviously, a 1% transfer rate would 2.25 million HIVE converted to pHIVE and resident on the Polygon blockchain. That does not see like an unreasonable figure since it is half the rate of the rather non-liquid HBD.
What is the incentive to switch some HIVE over? From the user standpoint, obviously generating a return. While it is doubtful many will power down to join this, it is probable that some of the liquid HIVE floating around will find its way there.
Here is what we see as the reasoning behind it.
Naturally there are reasons for holding Hive Power which extend beyond a simple ROI. However, with so much liquid HIVE floating around, we are dealing with a different animal.
It is likely the pHIVE-POLYCUB pool becomes the largest on Polycub very quickly. If a few million dollars rolls in, this could really help to boost the TVL of the platform.
That is important simply due to the fact that it will lift Polycub up in the rankings. It also have an effect on the rest of the platform since the price of POLYCUB will likely increase, impacting other pools in a similar manner.
An elevated Polycub will help Hive since it is likely to become the largest Hive liquidity pool, just like it did with HBD. We acknowledge the bar is low for that but we have to start somewhere.
Sink For HIVE
People in cryptocurrency often talk about sinks. This refers to use cases for a coin or token that start to reduce the amount that is sitting out there idle. When cryptocurrency has different use cases, the value of it can increase.
The liquidity pool on Polycub is another sink for HIVE. Here we are seeing a basic financial maneuver that will enhance the return people are getting. Therefore, we are seeing HIVE as a choice for investment. Due to a number of factors, this is not the case at present.
While this is not likely to send the price of HIVE skyrocketing, it is the ripple effect. Like a stone hitting the water, the ripples start to move outward, encompassing a larger part of the pond.
We need to keep in mind that additional sinks which mirror this one will be built. With a liquidity pool already planned on BSC, that will offer two that can eat up a fair bit of HIVE. Is it possible that both those pools end up with a few percent of HIVE's total free float? It is not unrealistic.
Another key feature is the Protocol that is designed into the Polycub system. A portion of the liquidity pool will end up being in Polycub's Treasury. This means that we are not going to see it sell its stake. Whatever liquidity is in there becomes permanent. That means we can view this as HIVE being locked up.
Naturally, there is no guarantee as the assets in a LP will vary as the demand for each shifts. However, with a strong APR, investors will tend to leave the money in there if it is performing. This could lock in a great deal of value, further enhancing the standing of HIVE.
Expanding The Tentacles Of Hive
There is no Holy Grail for Hive at the moment. The success of this ecosystem is going to be a game of attrition. It is a matter of many people pushing things forward in incremental steps.
With each new feature such as the pHIVE liquidity pool, the tentacles of Hive reach a bit further out. Having this pool fill up with a couple million HIVE will be a great first step in the overall reach and liquidity. The fact this is going to be duplicated means that we are about to see Hive spread out in a rather rapid fashion.
We have a lot taking place on-chain. It is important that we give people reasons to look at Hive. Having a coin that is generating a strong ROI is a help. We will obviously have to see the details and how all this unfolds. However, we must remember there is much greater utility to HIVE than just what is being described here.
Once people get involved, they could learn there are other use cases for what they are holding. It is another pathway from Hive that reaches further out.
It all keeps building upon itself.
What are your thoughts? Do you see pHIVE helping the Hive ecosystem? Let us know in the comments below.
If you found this article informative, please give an upvote and rehive.
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Saying the longer I wait to kill myself the more people will suffer.
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Its a terrorist act on American soil while some say its not real or Im a mental case. Many know its real. This is an ignored detrimental to humanity domestic and foreign threat. Ask informed soldiers in the American military what their oath is and tell them about the day you asked me why. Nobody has I guess. Maybe someone told ill informed soldiers they cant protect America from military leaders in control with ill intent. How do we protect locked up soldiers from telling the truth?
I'm afraid pHIVE-POLYCUB pair won't have high enough APR to lure liquidity. Volatility is quite high in both coins. If it gains enough liquidity, this should bring arbitrage trading between Hive and Polygon chains and benefit both HIVE and HBD. HBD price difference on internal market and on Polycub was quite big, hopefully pHIVE will balance this difference.
You can't really stop the price difference effects from setting in, there happen based on the larger crypto market effect.
However, that's the beauty of it, trading price differences is like literally day product sale, gotta buy cheap from somewhere and offload, but in most cases, it is often missed, haha.
HBD has been trading at 1 USD or higher on Polygon every time I have checked but Coingecko average price has been 0.90-0.98 USD so there should be some profit to take by buying on exchanges and selling on Polygon, or maybe this difference is from price conversions of BTC pairs.
HBD is traded against Hive down here, and Hive isn't some Defi token( also a volatile asset), its presence on these centralised exchanges makes it vulnerable to sharp price changes. So you expect that it takes a bit longer for Defi protocols to acknowledge the changes, and also, USDC price fluctuations adds up too.
If you check bleo and pleo currently, there are not even trading on the same figures, and come back to check the native Leo on hive engine, all different prices...
I don't really think that's a problem, because it mostly applies to extremely active markets( mostly trading in a specific pattern), if the market is slow, it will be hardly different.
We have no idea what the APR will be. Plus, the price of POLYCUB is low so as (if) the price increases, we will see a larger amount of money available for a return.
Do not forget, the APR on HIVE staked is about 10% if one curates. That is not a very high return.
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I've been wanting to get some, but separately ran into some issues with swapping on Sushiswap today to get Polycub, seems like the network was having some issues. I hope that is resolved as I think Polygon will play a huge role in crypto as well as a huge role for our ecosystem specifically.
If Shushi ain't working, use openocean
It can be a challenge at times. Sadly, Polygon has its flaws. But then so does BSC.
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Nothing is quite perfect, though Polygon does have a lot of promise
Always excited to see new offerings from Hive!
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I'm up for anything that will take Hive of the exchanges. Inasmuch as we don't know how impacting pHice will be, I think it's another opportunity, there's always availability for even people who thinks they've missed out
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We know that having a liquidity pool gives people access. Khal yes there was $75K swapped yesterday in the pHBD pool. That is a lot of activity.
Imagine what it could look like in the pHIVE pool if we get a million dollars in there fairly quickly.
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Well a million dollar will do a lot of good. That much liquidity can go a long way. Let's see how this plays out.
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Having Polycub replicated onto Cubfinance is a big one move that could be of great positive impact with the hope giving Hive a sink which further benefits the entire ecosystem. I feel this is a good move that stands a chance to benefit all.
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Yes I agree. One of the biggest opportunities is that it creates arbitrage between the two. This should help in all ways.
So having HBD and HIVE on both Polygon and BSC will be sensational.
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It's great to see how many new financial assets are being released on Hive!
!1UP
Technically this one isnt on Hive although it is related. It is on Polygon. But it is another opportunity to reach out.
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Yep I can testify to this. Hive black hole.
It’ll be fun to watch it all unravel
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We just need to keep talking about it all over the place. Get people in and then target them with the rest that Hive has to offer.
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I thought I would have woken up to the new farm today. I thought it was happening earlier.
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It's sad, I've been waiting all day, haha.
Yeah me too. Guess there were some last minute development problems.
Alas, best to test, test, and do more testing even if it delays things a day or two.
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Hey where can I learn more about this? I’ve been outta the loop. I’d love to see a breakdown of
“putting it onto the Polygon”blockchain”
Will this change many things on our chain here? If anyone has a link to a basics on this let me know. Cheers
Check out @leofinance blog, all you need to know is there...
Thank you 👍
You're very much welcomed:)
To tell the truth, I really don't understand pHive so I would not venture an opinion!!
pHive is basically hive integrated on the polygon network. The idea is to create more liquidating for hive, where people can easily acquire the tokens without having to go practice scalping to gain a good position on centralised exchanges. Added to this, liquidity providers are rewarded for putting up their tokens for the network.
Thanks for the reply and explanation, but I must say I still can't get my head around all of this.
I saw this explanation a short time ago, and it worked for me, so I will attempt to provide it here:
wLEO is Wrapped LEO accessible to people using Ethereum, so this makes wLEO an ERC20 like most other tokens on Ethereum. LEO is only available natively on Hive Engine, but wLEO on Ethereum allows us to tap into the value of the native LEO token.
When we move wLEO to Hive Engine, we end up with LEO. For LEO to end up on Ethereum, it needs to take the form of wLEO.
pHIVE operates in a similar manner, only the Polygon (MATIC) network is hosting it rather than Ethereum in the case of wLEO. That's all the
p-prefix in pHIVE indicates.If this explanation makes sense, I did my job. If the explanation is still lousy, please accept this slice of !PIZZA for additional trouble I caused.
Thank you so much for the explanation, it indeed helped me!!
Here is a nice !BEER for your efforts
BEER-- I don't get that too often. Thank you!!
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View or trade
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BEER.Just a "wrapped" version of HIVE. No different than pHBD versus HBD.
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Building alternatives is really important, I totally agree with you. PolyCUB is doing a great job right now and we all need to realize that. They are taking steps towards the future and decentralized finance is the financial system of the future. And the leofinance team is building the future financial system for the Hive ecosystem. In the future, we will see more clearly how the work of the leofinance team helps the Hive ecosystem.
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The reach is rapidly being extended. This is a great thing to watch. Over the next few months, a lot is going to happen.
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What about CUB ? Will it be possible to convert it to POLYCUB somehow?
Yes, this post says that too. All what is being built will be ported to other chains, so they will be a bHive and bHBD in the Sooniverse:)
Thank you! I read it but miss somehow
Now sure what you are saying. If you want to use CUB to get POLYCUB simply convert to bLEO and then bridge to pLEO and swap into POLYCUB.
If you mean will these pools show up on Cubfinance, at some point they will.
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I meant that it would be good to have some way to convert CUB to POLYCUB, as CUB looks abandoned and no use as aidrop ended.
wLEO and pLEO will be used to transform CUB to POLYCUB. Other transformations exist, but should be the most cost-effective way to get it done.
Thank you!
Are we sure that the Hive generated from fees won't be sold? I expect them to at least cover some costs somewhere and letting it just sit in an account might be a waste.
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It could be staked to regenerate that 8-10% Apr from curation, that would add for to the incentives I suppose.
Yea but I do think the fees should be put to use. However, there still needs to be enough liquid Hive in case people need to leave and the power-down time might be a bit too high to keep it all powered up. So only the fee portion can be powered up.
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Judging from this right here, it looks like right about 43% of the deposited HBD is kept liquid. It's not so realistic to have 43% of liquidity removed at once, currently, there's no logical reason to believe that can happen. So maybe, in terms of hive, the same can be replicated? The numbers can be relatively higher considering that hive is more liquid and there's well enough of the tokens for reserve.
It really boils down to the LP incentives, I mean, greed runs the crypto markets, just allocated high yields to the most liquid pool and watch that pool remain large.
The higher the yeilds, the larger the deposits and you guessed; the most income the network gets! This may actually benefits the POL.
Most defi projects don't get this, and that's why they mostly allocated lower yields to maybe the bitcoin pairs and maybe USDT pairs, that's literally where the money is, just keep the yields high and watch that TLV shoot up.
The difference between HP and HBD in savings is the difference between 13 weeks and 3 days. It's not the same and you can't really put that HIVE to work because 13 weeks is way too long.
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The difference doesn't really matter when you have the right size of liquidity flowing in. The yields controls what happens entirely. It would currently be crazy to have cubs sitting around right? Why exactly? Because there's literally a way to earn about 40% more.
So that makes it hard to want it floating. No doubt people will occasionally want their money back, but I believe the reserve cannot really run out if liquidity, that alone would break the peg if am not mistaken.
The fees can be earned but the liquid portion required for the bridge can't really be put to work. So that means that PolyCUB will be subsidizing most of the APR and it will take away from the other pools. There is only a certain amount of PolyCUB per block and it can get diluted quite fast if there are too many pools.
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True, this is where polycub governance comes in, every pool cannot be rich, so if your have a favourite, get more polycubs deposited into the xpolycub vault to gain more governance power, so as to vote your favourite pool to get more yeilds allocated, with this, Polycub price is sure to do well and so will the entire platform.
With money comes competition, and that requires power to win.
You lock up your non-liquid portion. He is right. The amount of time is not relevant if it is like that.
An option is to feed it into the pHIVE LP and give the Treasury larger share.
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If it's just the fees then yes. However the liquid portion of Hive needed for the bridge can't really be locked up.
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The fees from the bridge go to the Protocol.
It is part of the Treasury.
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Thanks for the update as far as I can see the Hive ecosystem will see much value and at the same time extending it's reach as long as liquidity investors buy into the token. This is huge news!!🤑🤑
We are getting closer. There is a lot happening and Polycub is going to radically alter a lot of things.
This is something I thought about and have a post going up about it tomorrow.
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Very interesting. I have been wanting to get into these farms, but I just don't have the liquid funds right now. I am trying to build some up to move into there, but the way the markets are right now the going is pretty slow. I like the idea of how it could grow the accessibility of Hive.
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I believe slow markets makes Defi more valuable. I view this structures as a support network, during the wild fall in markets they even become more valuable as people will undoubtedly seek an hedge to grow back some wealth.
Yes, I can agree with that.
I concur. There is a lot going on that will help to form the future. The key is that the system is still developing. For that reason, even when markets are heading against things, we are still expanding.
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It is great to see how many want in. Even with the liquidity some are having, there are options. Either way, there are now other avenues to build things. We are seeing expansion. I have another post coming up that will show directly how this is going to radically improve HBD.
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Every day, I want to see the ecology improve. Thank you very much, sir.
It's an amazing pool, pHive is an interesting news when anmounced.
I see the opportunity to get into PolyCUB, let's keep piling hive to provide liquidity.
It will really help things in a big way. We are going to see a lot added to the community through this. I have another post coming up about it.
We are going to see a massive change in 6 months.
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That as much is the truth. I know the. pHive pool would be deep if not deeper than pHBD.
I don't even want to say much until it's time.
Waiting on the next post.
I love how it will be new access for hive but will probably be more meaningful when we the wrapped hive on better chains than polygon. But it should definitely help
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Polygon is growing. After this, we know there will be BSC.
From there, who knows.
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Don't you think that when we often say that, something. should help the Hive, it's bad for reputation. This humiliates Hive, shows his vulnerability. It’s better to say the opposite.: The hive can help any crypto assets reach a new level)
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I'm sure it's a mutual thing but this is funny tho, makes me remember the double stablecoin joke task once laid out 🌚
Everyone loves jokes... tell me)
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Not at all. That is like saying that Splinterlands has helped Hive is a knock on it.
These applications and games are feeder systems into Hive.
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:) Anyway, I would put the Hive at the top of the corner, lol, so that everyone could see where the legs grow from).
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I like the mentioning of “the ripple effect”, it’s that what Hive needs, a bit of turbulence in the water. It will create attraction and will take liquid Hive of the markets. Hopefully enough to raise the price a bit, but even without that, HP holders will profit as it is Hive that won’t be powered up, and make the reward pool bigger, even if ijust a little bit, that is good news.
We need to keep things moving forward in this direction. A lot is taking place. We are now looking the "ripple effect" starts.
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Hive is making huge progress. I love this community
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Sounds like a good plan but we shall have to see how this all works out. Getting more investors holding HIVE is what the game is all about and if they can hold HBD as well then we should be styling.
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It is all going to build upon itself. Things are starting to come together.
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Perhaps this is the way we could acquire new investors apart from our friends at the South Korean exchanges who tend to pump-and-dump HIVE occasionally. We've benefited for their recent pumps, so I'm not complaining about that. I'm just saying we need a wider base of investors.
I feel conflicted, let‘s talk real mechanics for a moment.
Staked HBD or HP will inflate directly into my wallet.
Using Polycub, 50% of the pooled HBD will be put in savings, half of the HBD returns will be sold and PolyCub bought right? Instead of 20% APR HBD, I‘m currently getting 30%+ APY payed in PolyCub.
That means my effective APR is highly dependent on PolyCub‘s price and I’m constantly selling HBD via the intrinsic mechanics of the system. I hope my facts are straight.
A Hive Pool would be using very different mechanics for sure. Let‘s wait and see what they come up with.
That is the level of added risk going with a 3rd party and getting away from the base layer. That is where the added APR has to offset the risk.
Of course, if the price of POLYCUB skyrockets, then the return you get potentially goes up a great deal.
Or it could go down.
That is what each person needs to decide.
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Well, the Polycub Website actually shows APR, maybe that means the APY goes up or down with changes in the PolyCub price.
The Hive ecosystem is expanding. EVM fork be on Hive is good for liquidity. Now I'm holding Leo, Polycub and Hive !
I have all of them.
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It sounds all good and that. But I prefer to have the real thing.
Binance have hive on their exchange, others could follow suit if they wanted.
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Have the real thing?
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Binance have a hive account and you can trade it on their exchange. Is that not possible with HBD too?
It may be true, but only if you have access to Binance. Given where you and I live, you and I are S.O.L. on that front. That's another reason I suggested using centralized exchanges to buy stablecoins first.
But isn't that the point though, if others wanted it on their exchange?
It's a matter of adopting for Hive I think... a lot of people in crypto hqve never heard of steem or Hive.
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Im spreading the word as best i can.
Good of you! I try from time to time.
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One of the things that excites me about pHIVE on polygon is that it will allow me a place to trade HIVE for other major chains without the huge spreads on Hive-engine (though these have gotten better with diesel pools) or the dodgy practices of some of the centralized exchanges (not allowing you to withdraw HIVE at certain times -- whenever they deem it).
That is not the only thing, but it alone is enough to give me joy. All of the contortions I have gone through over the years to get my value in HIVE into and back out of something else in a timely an safe fashion, should be greatly reduced.
Polygon is not my favorite chain froma logistical standpoint but other chains will come more than likely. All in all a step in the right direction!
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That is true. Hopefully there will be a lot more liquidity and transactions. This is how we can get the spread tighter.
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SO far, it is not going as fast as I had hoped, but it is slowly and steadily growing which is probably the better way for it to happen.
I do think Ragnarok will be a good HBD sink if it is a hit.
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What exchanges are those?
I was pretty excited when I first figured out how to exchange Hive for ETH. Though it was expensive!
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You should be even more excited then to be able to exchange HIVE for BNB:
Yeah for sure, the point was that I was excited to have been able to change Hive into anything out of the ecosystem... I was fooling around to find out how I could change it into Dollars. The next step would have been to send eth it to cou base or something like that, sell it and voilà!
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Indeed as was I. The wrapping of LEO to wLEO was the first time I started looking for ways to convert HIVE into off-chain assets.
Learned a lot over the last 2 years or so because of LEO :-)
Oh I have just heard others complain about other exchanges. My only personal experience has been with Hotbit. Sometimes they just send out announcement that HIVE withdrawals are down. Wouldn't want to blame it a malicious per se. I think it is often to do updates on their wallets with hard forks.
You are at their mercy however. Not your keys. Not your crypto :-)
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Yes too many people don't realize this.
As more use cases for Hive comes to life it will generate a need for Hive.
Cub and polycub is a good Avenue for that case. We want to see Hive moving slowly away from earning solely on posts but more on other things that can generate ROI.
Hive is in a timeline where anything is possible.
The more it spreads the more pressure it will evolve to become what we expect.
As you mention the price may not jump but it will slowly moving away from the cents and further build resistance to the dollar.
!BEER
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That is all true. We are going to see things expanding, fairly rapidly compared to what took place over the last couple years.
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BEER.Hey @taskmaster4450, here is a little bit of
BEERfrom @pouchon for you. Enjoy it!Learn how to earn FREE BEER each day by staking your
BEER.A Sink:
Does this mean because a token or coin has more "utility", the less of these coins or tokens sit unused and unstated or something like that?
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That's why I'm in liquidity pools for sure!
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If 2 million dollars of Hive finds its way onto PolyCub... one thing is certain to happen. PolyCub is going to be paired with it. There are two possibilities of where that PolyCub comes from... the existing LP's (price jumps substantially) or from XPolyCub (APR on XPolyCub jumps substantially). Bullish on PolyCub. This is a big deal... and is just the beginning of these changes to optimize the platform.
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I also think the same that this pool is going to be a bigger one on polycub and probably pHBD will be the second after this. The new pool is great opportunity for hivers to be part of.
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(I still need to go through the comments to see what else I can learn from this post, but I want to comment before the payout window ends.)
It looks to me as if the weak point remains the fiat currency on-ramp and off-ramp, and these roads continue to be connected to centralized exchanges. The best cryptocurrencies to buy at the centralized exchanges are stablecoins depending on one's preferred blockchain (DAI for Ethereum, BUSD for BSC, etc.) We buy these stablecoins first, wait whatever time is required for transactions to clear, and after they clear we offload them to whatever wallets we want. Whether we buy privacy coins at this point is a matter for debate, but next is buying the cryptocurrencies we really care about. This allows us to keep a lower profile to buy Bitcoin or Ethereum or BNB, and this allows us to visit DEXs which offer other crypto such as HIVE/wHIVE/pHIVE/etc. and HBD/pHBD/etc.
With fundraising via crypto being monitored as when Canadian truckers were in their time of need, it's a precaution we need to take both as donors and as recipients of donations.
There may be better ways for us to handle that scenario, but I don't know what they would be. However, This is the approach I would follow to buy wHIVE and pHIVE.
Will we see pHive listed on Binance or Coinmarketcap?
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